share consolidation opens at 72.2c / 50 = 1.44

Personally I thought about 78c so not too far off. If I recall the last share price pre consolidation was about 1.7c? This x 50 equals 85c. Todays opening trade represents a fall of around 15%

Will be interesting to see where it goes from here.

ENG management state that they did this to avoid wiping massive amounts of the share capital off if the share dropped by 1c, etc.

It shall be interesting to see if they follow thru with investor roadshows, PR, etc to keep the SP up. If they don't then if I was a shareholder I would be very suspect of their true intentions.

Good luck ENG holders.


Ref:

SP Shares Dollars

0.62 200 124
0.75 174 130.5
0.74 3360 2486.4
0.70 2000 1400

5734 4140.9

$4140.9 / 5734 Shares
= 0.722
/ 50 = 0.0144